The launch yesterday of the Lumyna – Twelve Capital Parametric ILS Fund, a dedicated parametric insurance and insurance-linked securities (ILS) investment strategy managed by ILS manager Twelve Capital, is a “breakthrough” in the parametric space and provides “capacity for profitable growth”, senior execs at GC&C and Descartes Underwriting said.
The Lumyna – Twelve Capital Parametric ILS Fund has been established as an open-ended sub-fund under the Lumyna Alternative Funds SICAV in Luxembourg and was seeded with €75 million of committed capital from a leading European institutional investor.
As we explained in our report on the launch yesterday, critical to the strategy, as parametric ILS investment opportunities have never proven abundant enough to launch dedicated ILS fund strategies in the past, are the origination partnerships with Descartes Underwriting and Generali Global Corporate & Commercial.
FULL ORIGINAL PUBLICATION HERE
